• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Freddie Mac: Quality & Condition Ratings

[shrugs] The credibility of assignment results is always measured in the context of the intended use.

The 2-part test for SOW decisions refers to the expectations of users for the similar assignment plus the peers actions when performing a similar assignment. Not to whatever Richard Hagar or George Dell or others are selling to appraisers.

These are the minimums. There is no maximum so appraisers are always free to do as much "more" as they want. What they are not free to do is to say that everyone else is required under USPAP to do the same extras they add, because that's not what the document says.

Same applies to the add-ons at the users. They say what they say, and that's it.
 
Last edited:
Something that is accurate is exact and true. It's important to be accurate in the kitchen with your measurements and in the courtroom with your testimony.

The adjective accurate comes from the Latin roots ad curare, meaning "to take care," and that is precisely what you do when you make sure something is accurate. You take care to make sure it is perfectly correct: an accurate answer, an accurate headcount, an accurate assessment of the problem. By adding the Latin root in, meaning not, you can make the antonym inaccurate (not accurate).
The reason I posted this definition is that accurate does not not always statically correct or a numerical target was hit ( though it can be)

Clearly, the URAR saying an accurate opinion is self-contradictory - an opinion can not be accurate because it si not a fact; however, an opinion can be accurately developed (with care, worthy of belief), or as accurate as possible - which falls short of perfection but then neither are AVM's or other computer/statistical models perfect. They can appear impressive with charts and stats and numbers, but in reality they are no better wrt developing a credible value - and might be worse since they give a false perception of precision.
 
We're still charged with acting in good faith and figuring out what it will take to get to "meaningful and not misleading to intended users." If we know they don't actually expect the one number to be the one-and-only-possible expression of MV then it doesn't become an act of bad faith on our part to proceed accordingly. Do as best we can.
 
We're still charged with acting in good faith and figuring out what it will take to get to "meaningful and not misleading to intended users." If we know they don't actually expect the one number to be the one-and-only-possible expression of MV then it doesn't become an act of bad faith on our part to proceed accordingly. Do as best we can.
I agree and I was always astonished when some appraisers say that an appraiser is not "good enough" for a point value- since those lost souls believed that their OMV for one client use was expected to be an omnipotent, universally accepted value /becomes a fact.
 
Like I said, I've personally never done a range in lieu of a point value. But I've done both many times. I do it in reviews, too.
 
I saw on the fannie new form video, that on the roof section it was written by someone under condition, est remaining life 20 years. I guess if fannie can make us 1/10ers GLA perfectionist, they can make us home inspectors. This profession is not going where, most of us, will continue to suffer doing it.
 
I saw on the fannie new form video, that on the roof section it was written by someone under condition, est remaining life 20 years. I guess if fannie can make us 1/10ers GLA perfectionist, they can make us home inspectors. This profession is not going where, most of us, will continue to suffer doing it.
Yep. And front door elevation, high speed internet access, etc.

Beyond the increased minutiae, the four software packages I looked at will are building in photo recognition (for the subject and comps), scan to sketch, and adjustment software being. If they don't kick the can again, this time next year will be an interesting times on the forums with the "I had no idea" and What the heck" threads.

Related (I posted this in another thread): For those paying attention, Aloft's Head of Development (and instructor) is now the Lead Associate of SF Collateral Risk at Fannie. Adapt and learn, or risk falling behind.
 
Last edited:
Yep. And front door elevation, high speed internet access, etc.

Beyond the increased minutiae the four software packages I looked at will are building in photo recognition (for the subject and comps), scan to sketch, and adjustment software being. If they don't kick the can again, this time next year will be an interesting times on the forums with the "I had no idea" and What the heck" threads.

Related (I posted this in another thread): For those paying attention, Aloft's Head of Development (and instructor) is now the Lead Associate of SF Collateral Risk at Fannie. Adapt and learn, or risk falling behind.
And on the ASB and formerly with CoreLogic's Columbia education unit. And does not appear to have ever done an appraisal.
 
And on the ASB and formerly with CoreLogic's Columbia education unit. And does not appear to have ever done an appraisal.
Thanks for mentioning that (she's a USPAP instructor too). I didn't want it to look like I was being critical of her because this really isn't about her (FTR she is beyond qualified, I'm surprised she moved on from the private sector).

Boots on the ground appraisers need to pay attention, it's a "damn the torpedoes, full speed ahead" attitude at the GSEs. And it's no secret, they have been broadcasting their moves for years. How many times have we heard from the muckety-mucks that the need for residential appraisers will drop significantly? Add to that, consider the off the hook influence hiring and buying going on in our industry, the rise of national puppy-mill firms, etc. and the future isn't so bright for appraisers who rely on GSE work (and like it or not that describes the vast majority of resi appraisers).
 
Last edited:
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Back
Top